Be on Guard Against Phone Calls from Con Artists Who Target Seniors

You’ve heard the stories; your friends have gotten them before. A far too common scam involves an imposter pretending to be a relative in trouble. (“My wallet was stolen” or “I’m in jail.”) These callers do enough homework to mention the name of the relative or other people the senior citizen knows. And by “crying,” it is difficult to recognize the voice.
The scammer usually pleads for money to be sent immediately by wire transfer, and to not tell any family members for fear of upsetting them. In one variation, the caller may instead claim to be a lawyer, police officer or someone else trying to “help” your relative.

“Many older individuals will immediately jump to the assistance of a relative, without asking questions that would verify the caller’s identity,” said Marybeth Bannon, an FDIC Consumer Affairs Specialist. “In this situation, always check with another family member about whether your relative actually is in trouble and needs money, and only wire money to people you know.”

The lesson here: Don’t wire money to strangers who claim they are helping your family.

For more information about ways to avoid fraud, you can check out the FBI’s page with tips on how to prevent fraud here: FBI – Seniors

Another great way to protect yourself is Privacy Armor*, a revolutionary service that several Fortune 500 Companies use and give as a benefit to their employees. Privacy Armor protects your identity and sensitive information in an effort to safe keep your most important asset, your identity.

Give us a call to schedule an appointment where we can help you better understand the many challenges in the financial-world: 206.528.2001

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Goldbloom Wealth Management, LLC is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. By contacting us you may be offered insurance and/or investment products for sale. Tax services offered through outside CPA's or AGT Tax & Insurance Services West be sure to first consult with a qualified financial adviser, tax professional, or attorney before implementing any strategy or recommendation discussed herein.